TIDMWAND
RNS Number : 3134Y
WANdisco Plc
04 December 2017
THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN,
IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, OR ANY
OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL.
4 December 2017
WANdisco plc
("WANdisco" or the "Company")
LEI: 213800Y1A75RSC698O04
Result of Placing
WANdisco plc (AIM: WAND), the world leader in Active Data
Replication(R), today announces that further to the announcements
made earlier today regarding the proposed placing of ordinary
shares, it has successfully placed 2,971,069 new ordinary shares of
10 pence each in the Company (the "Placing Shares"), at a price of
550 pence per share, raising gross proceeds of approximately $22
million (the "Placing").
Investor demand for the Placing significantly exceeded the
announced minimum targeted size of $10 million. The Board, after
careful consideration with the Bookrunners, has exercised its right
to increase the size of the Placing.
The Placing Shares to be issued represent approximately 7.8 per
cent. of the Company's existing issued ordinary share capital. The
Placing Price represents a discount of approximately 2.7 per cent.
to the Company's closing middle market share price on 1 December
2017.
Stifel Nicolaus Europe Limited ("Stifel") and Beech Hill
Securities Inc ("Beech Hill") acted as joint bookrunners (together
the "Bookrunners") in relation to the Placing.
Admission
Application for the Placing Shares to be admitted to trading on
AIM ("Admission") will be made in due course. It is currently
expected that settlement of all of the Placing Shares and Admission
will take place at 8.00 a.m. on or around 11 December 2017. The
Placing is conditional upon, inter alia, Admission becoming
effective and the Placing Agreement becoming unconditional and not
being terminated in accordance with its terms.
A GBP to USD to exchange rate of 1.3463 has been used in this
announcement unless otherwise stated.
Total voting rights
The Placing Shares will, when issued, rank pari passu in all
respects with, and will carry the same voting and dividend rights
as the existing ordinary shares. Following Admission of the Placing
Shares, the Company's enlarged issued share capital will comprise
40,903,941 voting ordinary shares. The aforementioned figure of
40,903,941 voting ordinary shares may be used by shareholders in
the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
change in the interest in, the share capital of the Company under
the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.
David Richards, Chief Executive and Interim Chairman of
WANdisco, commented:
"We are pleased with the support shown by both existing and new
investors for this fundraising as we seek to continue to deliver
strong organic revenue growth. The fundraising will enable us to
enhance our ability to capitalise on the sizeable market
opportunity, as we deepen and broaden our strategic partnerships in
order to maximise our sales pipeline. In addition, the proceeds
will strengthen the Company's balance sheet, giving confidence to
new strategic partners and customers."
For further information, please contact:
WANdisco plc Via Vigo Communications
David Richards, Chief Executive
Officer and Interim Chairman
Erik Miller, Chief Financial
Officer
+44 (0)207 830
Vigo Communications 9700
Jeremy Garcia / Fiona Henson
/ Antonia Pollock
www.vigocomms.com
+44 (0)207 710
Stifel (Nomad, Joint Bookrunner) 7600
Fred Walsh / Neil Shah / Ben
Maddison / Rajpal Padam
Beech Hill Securities (Joint
Bookrunner)
Thomas Lawrence +1 212 350 7200
About WANdisco:
WANdisco is the world leader in Active Data Replication(TM). Its
patented WANdisco Fusion technology enables the replication of
continuously changing data to the cloud and on-premises data
centers with guaranteed consistency, no downtime and no business
disruption. It also allows distributed development teams to
collaborate as if they are all working in one location. WANdisco
currently has two OEM relationships with IBM and Dell/EMC's
Virtustream as well as partnerships with Amazon Web Services,
Cisco, Google Cloud, Hewlett Packard Enterprise, Microsoft Azure,
and Oracle to resell its patented technology. WANdisco also works
directly with Fortune 1000 companies around the world to ensure
their data can give them the real insight they need.
For additional information, please visit www.wandisco.com.
IMPORTANT NOTICES
This Announcement or any part of it does not constitute or form
part of any offer to issue or sell, or the solicitation of an offer
to acquire, purchase or subscribe for, any securities in the United
States (including its territories and possessions, any state of the
United States and the District of Columbia). The Placing Shares
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "Securities Act") or with
any securities regulatory authority of any state or jurisdiction of
the United States, and may not be offered, sold or transferred,
directly or indirectly, in the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and in compliance
with any applicable securities laws of any state or other
jurisdiction of the United States. There will be no public offering
of securities in the United States.
This Announcement may contain and the Company may make verbal
statements containing "forward-looking statements" with respect to
certain of the Company's plans and its current goals and
expectations relating to its future financial condition,
performance, strategic initiatives, objectives and results. By
their nature, all forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances
which are beyond the control of the Company, including amongst
other things, United Kingdom domestic and global economic business
conditions, market-related risks such as fluctuations in interest
rates and exchange rates, the policies and actions of governmental
and regulatory authorities, the effect of competition, inflation,
deflation, the timing effect and other uncertainties of future
acquisitions or combinations within relevant industries, the effect
of tax and other legislation and other regulations in the
jurisdictions in which the Company and its respective affiliates
operate, the effect of volatility in the equity, capital and credit
markets on the Company's profitability and ability to access
capital and credit, a decline in the Company's credit ratings; the
effect of operational risks; and the loss of key personnel. As a
result, the actual future financial condition, performance and
results of the Company may differ materially from the plans, goals
and expectations set forth in any forward-looking statements. Any
forward-looking statements made in this Announcement by or on
behalf of the Company speak only as of the date they are made.
Except as required by applicable law or regulation, the Company
expressly disclaims any obligation or undertaking to publish any
updates or revisions to any forward-looking statements contained in
this Announcement to reflect any changes in the Company's
expectations with regard thereto or any changes in events,
conditions or circumstances on which any such statement is
based.
Stifel is authorised and regulated by the Financial Conduct
Authority (the "FCA") in the United Kingdom and is acting
exclusively for the Company and no one else in connection with the
Placing, and Stifel will not be responsible to anyone (including
any purchasers of the Placing Shares) other than the Company for
providing the protections afforded to its clients or for providing
advice in relation to the Placing or any other matters referred to
in this Announcement.
Beech Hill is regulated by the SEC and the Financial Industry
Regulatory Authority in the United States of America and is acting
exclusively for the Company and no one else in connection with the
Placing, and Beech Hill will not be responsible to anyone
(including any purchaser of the Placing Shares) other than the
Company for providing the protections afforded to its clients or
for providing advice in relation to the Placing or any other
matters referred to in this Announcement.
No representation or warranty, express or implied, is or will be
made as to, or in relation to, and no responsibility or liability
is or will be accepted by Stifel or Beech Hill or by any of its
respective affiliates or agents as to, or in relation to, the
accuracy or completeness of this Announcement or any other written
or oral information made available to or publicly available to any
interested party or its advisers, and any liability therefore is
expressly disclaimed.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROIEADALEDXXFFF
(END) Dow Jones Newswires
December 04, 2017 08:45 ET (13:45 GMT)
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